BRUSSELS – European Union leaders are due to meet on Monday in another show of solidarity with Ukraine, but divisions over whether to target Russian oil in a new sanctions circular reveal the limits of how far the bloc can go. can go on to help the war-torn country. Ukrainian President Volodymyr Zelenskyy, who will face the 27 heads of state and government via video conference later tonight, has continuously demanded that the EU target Russia’s lucrative energy sector and deprive Moscow of billions. dollars each day in original payments. But Hungary heads an organization of countries – along with Slovakia, the Czech Republic and Bulgaria – that count on Russian oil and cannot take such measures. Hungary gets more than 60% of its oil from Russia and 85% of its gas from herbs. Prime Minister Viktor Orban insisted that an oil embargo deserves not to be discussed at the summit. The EU has already imposed five sanctions circulars on Russia for its movements in Ukraine. More than 1,000 people pass by, adding President Vladimir Putin and top government officials, as well as pro-Kremlin oligarchs, banks, the coal sector and more.
A sixth package was announced on May 4, but the oil heist embarrasses the bloc. Ahead of the summit, officials warned that a solution could be found by focusing on oil transported via ships and keeping the pipeline so valuable to Hungary.
“If we target oil that arrives by sea, we will get at least two-thirds of exports, maybe more,” a senior EU official said. He refused to be appointed given the sensitive nature of the negotiations. Hungary and Slovakia have Russian oil. to obtain the Soviet-era Druzhba pipeline.
The challenge with seaborne oil is that countries like Belgium, Germany and the Netherlands that are highly dependent on this form would suffer an increase in oil prices, distorting the festival, as Hungary would continue to buy cheaper Russian oil. Experts failed to reach agreement on such a resolution over the weekend, but continued their discussions ahead of the summit.
The two-day assembly in Brussels will also focus on eu monetary continuity for Ukraine, most likely approving a 9 billion euro ($9. 7 billion) aid tranche, military aid and war crimes investigations.
The issue of food security will be on the table on Tuesday, with leaders in a position to inspire their governments to boost work on “solidarity pathways” to help Ukraine export grain and other products.